Askari Bank joins Din Global’s Digital Retail Banking license application as local banking sponsor to setup “dbank”

Atif Riaz Bokhari, President & CEO of Askari Bank and Khurram Jamali & Tania Aidrus of Din Global executed an MoU with Askari Bank agreeing to be the local sponsor in a digital retail bank “dbank”. Din Global, a fintech venture founded by Tania Aidrus and Khurram Jamali, submitted an application to the State Bank of Pakistan last month for a Digital Retail Banking license. Askari Bank has embarked upon its digital transformation and, with Din Global through “dbank”, aims to further promote financial inclusion in the country by creating ease of banking while offering delightful and frictionless access to financial services for all Pakistanis. Backed by leading global venture capital firm Kleiner Perkins and one of the world’s largest digital banking platforms, Nubank, and now Askari Bank, Din Global looks to launch “dbank” in Pakistan.

Atif Riaz Bokhari – President & CEO, Askari Bank, while sharing his thoughts on backing the proposed “dbank”, said, “Din Global aligned with our values of inclusivity and progressive financial service in the country. As we embark on our digital transformation strategy to support world-class digital finance in Pakistan and bring banking to everyone, Din Global has set out to create a product that will impact the grassroots of our country by bringing them into the fold of Pakistan’s formal economy and we intend to support them in their mission. We are delighted to be local partners of Din Global in setting up “dbank” and are delighted to join them on this game-changing journey!”

Khurram Jamali, the Co-Founder, Din Global, thanked Askari Bank for being their local sponsors and said, “We are very excited to have Askari Bank on board as the local sponsors for our Digital Retail Bank in Pakistan. We believe with “dbank” we can create something unique for our nation, catering to the financial needs of our people and promoting financial inclusion. This is only possible if we leverage technology to create customer-centric solutions and is the need of the hour for economic growth in the country”.

Atif Riaz Bokhari – President & CEO, Khurshid Zafar – Chief Operating Officer, Saleem Anwar – Chief Financial Officer and Shehryar Ali Shah – Chief Digital Officer of Askari Bank and Din Global’s leadership team Tania Aidrus, Khurram Jamali and Nabeel Malik were part of the event celebrating the partnership.

Only 21.3% of the Pakistani population is banked, while women make up 82% of the unbanked population in Pakistan, this narrative and access to capital have to change.

Through “dbank” Din Global seeks to democratize financial services for everyone. This is possible by building a customer-centric digital bank that empowers every Pakistani by making it simple to borrow, transact and save money securely. To achieve this objective Din Global has sought to partner with global leaders in financial services and technology.